MYR Group Inc. started 2026 with strong momentum, reporting record quarterly net income, EBITDA, and backlog. The company experienced year-over-year increases in revenue and gross profit, driven by higher contractual margins and improved productivity, positioning it for sustained growth.
Record quarterly net income of $46.8 million, or $2.99 per diluted share.
positiveRecord quarterly EBITDA of $81.5 million, a significant increase from $50.2 million in Q1 2025.
positiveRecord backlog of $2.84 billion, up 7.7% year-over-year.
positiveConsolidated gross profit increased to $134.4 million from $96.9 million in Q1 2025, with gross margin improving to 13.4% from 11.6%.
positiveSelling, general and administrative expenses increased to $69.4 million from $62.5 million in Q1 2025, primarily due to higher employee incentive compensation and growth support expenses.
attentionWhile gross margin improved, it was partially offset by an increase in costs associated with project inefficiencies on certain projects.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Transmission & Distribution | N/A | — | — | — |
Commercial & Industrial | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
We started the year with strong momentum, delivering year-over-year increases in revenue and gross profit, along with record quarterly net income, EBITDA, and backlog.
By deepening relationships with strategic customers and continuing to invest in expanding our geographic footprint and market reach, we are creating meaningful long-term growth opportunities and strengthening our competitive position.
We believe our solid financial performance, disciplined execution, and favorable market outlook position us well to sustain this momentum through the remainder of 2026.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.